FREQUENTLY ASKED QUESTIONS

WHAT IS THE 'MLS' AND WHAT GOOD IS IT?- MLS stands Multiple Listing Service. It's the computer system that most realtors access to advertise their properties to all of the other realtors. It's free, until you actually benefit from it. Lets say that your property rents for $1000 a month. We normally offer up to $200 referral fee to other realtors who bring us a qualified tenant that is accepted. That means that if by using the MLS your property is rented just 5 days sooner than it would have been otherwise, you've saved yourself money.... ($1000/30=33.33 33.33x5= 166.66). It doesn't cost anything to list and the referral fee comes out of the first months rent.

DO YOU PICK UP THE TENANTS RENT PAYMENTS AT THE PROPERTY?  No. We give the tenants mail in address labels just like the mortgage company gives you. We also have a twenty-four (24) mail slot where payments can be put through the door. In addition, there is someone in the office over 45 hours a week. We have never had a problem with tenants getting their payments into the office, except when they didn't have the money to start with.

DO YOU GIVE A PRICE BREAK FOR OWNERS WITH MULTIPLE PROPERTIES?Yes, but you have to have a lot of properties and/or a lot of units. We usually don't offer a break unless you have a minimum of 4 units.

HOW DO YOU DECIDE WHAT TYPE OF MAINTENANCE PERSON TO SEND FOR A REPAIR? We look at the type of repair that is being made and pick the best person that is suited for the job. Many times it also has to do with "risk'. In other words, we don't send a handyman to repair or replace an electrical box or breaker board. The chances of causing a fire are to high, so we would use an electrician. However, we wouldn't use an electrician to change out some light bulbs or replace a light socket or switch, something with little or low risk, we would use a handyman. So, each instance and what is involved is evaluated and the best person is selected based on risk and cost.

IS ANYONE ON YOUR STAFF BILINGUAL? Yes. We have Property Managers that speak both English and Spanish.

CAN YOU JUST GET ME A TENANT AND I'LL MANAGE THE PROPERTY MYSELF? - Unfortunately no, for a couple of reasons. First, there is the slim possibility that you or the tenant have some sort of falling out and somehow we get dragged into the mess even though the only thing we did was basically show the property. The second reason is that Nevada State Law requires all out of state owners to have a live contact person in the county in which they own their rental. It is illegal for an owner to handle a rental property here without a live representative.

THE PERSON I SPOKE TO ON THE PHONE ISN'T THE PROPERTY MANAGER I GOT, HOW COME? - Handling multiple properties is time intensive. It's extremely difficult to do from behind a desk. Consequently, most of the property managers spend a great deal of time out in the field, at the properties. I have yet to figure out how a Property Manager can adequately show the inside of your property from behind their desk in the office. Consequently, most of the time you will speak to someone in the office that is available to answer your questions, but may not be the best person suited for your type of property. We then assign the property to the person we feel can do the best job.

IT DOESN'T LOOK LIKE YOUR RENT PROJECTIONS WILL BE ENOUGH TO COVER MY EXPENSES, WHAT DO WE DO? - First of all we do not set your rent price. We show you what the market is paying for your type and size of property. You can ask any price you want. Keep in mind, your average tenant doesn't really care what you need, how much you paid for the property, how little you put down, or what your debt obligation is. He is looking for the best property that meets his budget. Like anything else, if he can basically get the same thing cheaper, the next block over, that's what he will do. You need to decide how long you are going to try and get "your price". Remember, every day the property sits vacant, you're losing money.

Previous 1 2 3 4 5 6 7 8